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News Release: October 21st, 2005
Drilling Underway at the
Skoonka Creek (SAM) Au-Ag Prospect, B.C.
Strongbow Exploration Inc. ("Strongbow")
has informed Almaden Minerals Ltd. ("Almaden") that
a diamond drilling program operated by Strongbow is now underway
on Almaden's 100% owned Skoonka Creek (formerly SAM) property
located 25 kilometers northeast of Lytton, British Columbia.
Almaden has optioned the Skoonka Creek property to Strongbow
under terms whereby Strongbow can earn up to a 60% interest in
the 10,765 ha property. The property hosts two gold bearing epithermal
vein gold-silver showings and a number of untested gold in soil
anomalies. The showings were originally discovered by Almaden
over the preceding two years and represent part of a new, previously
unexplored epithermal gold district located in a mature mining
region that has excellent infrastructure.
The drilling will focus on the high grade
JJ showing located in the northern part of the property. The
JJ showing consists of two closely spaced veins separated by
approximately 0.5 metres of altered volcanic wall rocks, forming
a mineralized zone grading 22.8 g/t gold over an estimated true
width of approximately 2.0 metres. Strongbow has released results
from three new trenches that bracket the 2004 JJ trench, representing
an exposed strike length of approximately 21 m. Each trench is
oriented perpendicular to strike and ranges from 3.9 m to 7.3
m in length. Of 29 bulk channel samples collected from these
four trenches, 28 have returned greater than 100 ppb gold, including
20 samples greater than 1 g/t gold and 10 samples in excess of
12 g/t gold. Additional trenching was also completed by Strongbow
approximately 25 m further along strike to the northeast of the
main showing, in the vicinity of eight float and outcrop grab
samples that have returned from 0.34 to 6.97 g/t gold. This work
has exposed a series of narrow quartz veins up to 0.5 m in apparent
thickness within a 1.5 m wide mineralized zone, effectively extending
the strike length of the JJ showing approximately 60 m. Results
from 19 bulk channel samples collected in this new trenching
have confirmed the presence of anomalous gold, with all 19 samples
returning from 0.3 g/t gold to 8.6 g/t gold and including eight
samples greater than 1 g/t gold. The JJ vein system is hosted
within clay altered andesites and is estimated to have a moderate,
60 to 70 degree southeasterly dip.
Strongbow has informed Almaden that eleven
holes are planned for a total of roughly 1,500 meters targeting
veins identified in trenches and soil anomalies that are thought
to be potentially reflecting additional vein structures.
Under the terms of the agreement with Almaden,
Strongbow can earn a 51% interest in the Skoonka Creek property
by issuing to Almaden 600,000 shares and completing exploration
expenditures of $2 million prior to December 31, 2008. Strongbow
can increase its interest to 60% by spending an additional $2
million and issuing a further 400,000 shares to Almaden over
the ensuing two years. Under certain conditions, Strongbow may
elect to pay Almaden $300,000 in cash in lieu of the final 200,000
share payment. The agreement includes a commitment to spend $150,000
exploring the property prior to December 31, 2005. The 2005 exploration
program on the Skoonka Creek property will be conducted under
the supervision of David Gale, P.Geo. (BC), a Qualified Person
within the meaning of National Instrument 43-101.
ON BEHALF OF THE BOARD
OF DIRECTORS
Duane Poliquin
The Toronto Stock Exchange
has not reviewed nor accepted responsibility for the adequacy
or accuracy of the contents of this news release which has been
prepared by management. Statements contained in this news release
that are not historical facts are forward looking statements
as that term is defined in the private securities litigation
reform act of 1995. Such forward -looking statements are subject
to risks and uncertainties which could cause actual results to
differ materially from estimated results. Such risks and uncertainties
are detailed in the Company's filing with the Securities and
Exchange Commission. |